June 26, 2022

South Korean COVID-19 testing kit makers are confident that their equipment’s will be able to detect the new Omicron virus variant, amid rising worries, while also pushing up their stock prices again.

Local COVID-19 testing kit company, GreenCross Medical Science, mentioned that testing kit has been confirmed to show effectiveness for the new omicron variant as well.

The company conducted the ‘in-silico’ experiment in order to assess the validity of the result from its testing equipment. This experiment refers to a type of analysis performed through computer simulation.

It further mentioned that the analysis they conducted confirmed that the gene sequence of the omicron variant did not affect the target area of its testing kit. This meant that it can detect whether the person is infected regardless of the variant.

After the company announced its test kit’s detection accuracy on Friday, its stock price began to surge. The stock closed at 7,720 won ($6.53), up 9.5 percent from the closing price the previous day.

Another local company, Boditech Med also announced that they have completed the assessment of its COVID-19 testing kit product’s, which has shown to be effective on the omicron variant.

According to the company, it explained that most of virus variants are taking place in the spike protein, which is located on the outside of the virus. However, as its testing kits mostly target the nucleocapsid protein that is placed on the inside of the virus surface, the equipment to confirm the infection is not hindered by the new variant.

A Boditech Med official commented that they are in the process of developing a testing kit that can determine the infection of the omicron variant with just one test, besides the testing kits it has already sold.

Seegene reported that their virus diagnostic reagent can also detect the omicron variant without any hindrence.

According to Seegene, the diagnostic reagent targets four COVID-19 virus genes and five variant genes. And of the genes that the omicron variant contains, three kinds can be spotted by its product, through which it can successfully the case to be an omicron variant infection.